Trading on the TSX will commence March 26, 2018
VANCOUVER, March 23, 2018 /CNW/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (CSE:IN; OTCQB:IMLFF), a biopharmaceutical company specializing in the research and development of novel, cannabinoid-based drug therapies, announced that is has received final approval for the listing of the Company's common shares (the "Common Shares") on the Toronto Stock Exchange (the "TSX").
The Common Shares will commence trading on the TSX effective as of the open of the market on Monday, March 26, 2018. Upon listing on the TSX, the Common Shares will continue to trade under the symbol "IN". In conjunction with listing on the TSX, the Common Shares will concurrently be delisted from the Canadian Securities Exchange.
"Listing the trading of our shares on the Toronto Stock Exchange is a significant milestone for InMed as it provides us with broader market recognition that is reflective of the Company's progress and potential. The TSX is among the global leaders in listing public companies and is the premier exchange in Canada," stated Eric A. Adams, President and CEO. "The addition of InMed to the TSX is a historic day for our Company and our investors".
Shareholders are not required to exchange their stock certificates or take any other action in connection with the TSX listing, as there will be no change in the trading symbol or CUSIP for the Common Shares.
InMed is a preclinical stage biopharmaceutical company specializing in the research and development of novel, cannabinoid-based prescription drug therapies utilizing novel drug delivery systems. InMed conducts research, discovery, preclinical, regulatory, manufacturing and commercial development activities for its product candidates. InMed's proprietary bioinformatics platform, its biosynthesis manufacturing process and its drug development programs are the fundamental value drivers of the Company. For more information, visit www.inmedpharma.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes statements about: the listing of the Common Shares on the TSX; the expected timing for the completion of the listing and commencement of trading of the Common Shares on the TSX; the trading symbol for the Common Shares on the TSX; expected timing of the delisting from the CSE; and the expected fundamental value drivers of the Company.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: the listing of the Common Shares on the TSX and delisting from the CSE will be completed in accordance with the timing currently expected; demand for InMed's products; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause InMed's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: InMed may not realize the benefits from listing on the TSX currently expected or anticipated by management; economic or market conditions may worsen; and InMed's proprietary bioinformatics platform, biosynthesis manufacturing process and drug development programs may not become the fundamental value drivers of the Company. A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed's most recent Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE InMed Pharmaceuticals Inc.